War With Iran: Operation Roaring Lion/Epic Fury Doron Peskin, Middle East Expert 05:40 AM
Economic damage intensifies as ships pile up outside the Strait of Hormuz
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The economic fallout is escalating as maritime traffic around the Strait of Hormuz grinds to a halt.
Dozens of cargo vessels are currently anchored off the coasts of Iran, Iraq, Kuwait, and the United Arab Emirates, avoiding passage through the strategic waterway. In addition, at least 100 oil tankers are waiting near the shores of the United Arab Emirates and Oman, remaining outside the Strait of Hormuz amid growing security fears.
Earlier today, an oil tanker attacked by Iranian forces in the vicinity of the strait reportedly began to sink, further heightening alarm among shipping companies and energy markets.
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